We are asking for your support on support House Bill 81 – Credit Union Modernization Act. Telhio Credit Union consists of approximtely 62,000 members made up of everyone who lives, works, worships, or attends school in Franklin County and other zip codes such as: Canal Winchester, Dublin, Galloway, Johnstown, London, Orient, Pataskala, Pickerington, Powell, Reynoldsburg, and Westerville.

House Bill 81’s provisions would allow our credit union, a financial cooperative, to better serve our members.  Because of this bill, members would be able to deposit probate and guardianship funds at their credit union, something currently not permitted under Ohio law.  It’s a hardship for members who consider our credit union their primary financial institution when they have to use another financial institution for probate or guardianship matters. For more information on House Bill 81, please contact your local state representative.

Telhio Credit Union is one of 529 Ohio credit unions which serve nearly 3 million consumers.  Operating under the motto, “not for profit, not for charity, but for service,” which dates back to 1935, credit unions exist to serve the ever-changing needs of our members.  Credit unions specialize in services for consumers, such as savings accounts, personal loans, and consumer loans. But many credit unions have expanded their services to include electronic transactions, debit and credit cards, mortgages, home equity loans, and IRAs, among other products.  And, credit unions educate members about sensible money management to continually help improve members’ financial condition.

Like all cooperatives, credit unions have certain core characteristics:

• We’re owned by our members
• We operate democratically
• We’re not-for-profit; we don’t make money for anyone but our members
• We support social and community programs to improve the quality of life for everyone.

 Again, thank you for your support of HB 81.